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Electricity Deregulation in Maine
The split between utilities and generators came in 2000 for the state of Maine. Utility companies were then responsible for maintenance of power lines, distribution of energy and transmission lines. This created the divide between Maine electric suppliers and utility companies.
Maine electric companies have a standard offer service (default service) for those who have not switched. To get a competitive supply rate, you must actively choose an alternative licensed supplier.
You are likely overpaying for your energy if you have never switched.
Utilities in Maine
In Maine, the electric utility handles all maintenance and is responsible for getting your energy to you. Most importantly, if your power goes out, trees end up on a power line outside or there is an emergency, you will need to contact your utility company for help. Your Supplier is unable to assist with restoring your service.
Shop For A New Supplier
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Schedule A Reverse Energy Auction
Large Commercial & Industrial customers in Maine benefit from a tailored reverse auction approach. Watch LIVE as suppliers submit their bids on your electric in real time. Feel confident in your new agreement when you partner with us.
Electric Rates in Maine
There are a variety of plans available to consumers under deregulation. Knowing which makes the most sense for your business or home can sometimes feel overwhelming. Before you sign your next energy agreement, let’s review the pro’s and con’s to each product. Depending on your companies risk tolerance and load profile, a full fixed agreement may not make the most sense. Sometimes locking portions of your supply charges and passing-through others work in your favor. Regardless, let’s explore the different product types:
In a fixed-rate plan, the energy portion is fixed for the duration of the agreement at the contracted rate. While fixed-rates are usually more of a premium, they come with less risk to the customer if there is a spike in the energy market.
Variable rates change from month to month with the market and can often have a monthly service fee attached to them. Rarely do these make sense for residential or small commercial consumers.
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Before You Shop For Maine Electric Rates
Before you jump into your supplier search, you need to consider a few aspects of your energy needs
Standard Offer Service
For Central Maine Power and Versant Power, small commercial rates are fixed for 12 months on average while medium commercial rates change each month. PTC’s are adjusted typically quarterly by your utility company and are based on what the utility pays for large sums of energy on the wholesale energy market over a two-year period.
Knowing your personal growth and efficiency goals are important. Are you planning to move in the next three years? Are there any lighting or renewable upgrades planned during that time? These are all factors that will change what length of contract makes the most sense.
Monitor the Market
With energy pricing trading daily, sometimes a shorter term contract can be lower than a longer term and vice versa. Our energy experts will discuss all options on the table to help you understand the current market and what that means to your business. They can be reached at 800-225-3813.
Common Electricity Terms
Understanding even the basics can help you make more informed decisions regarding your energy strategy.
These are the companies that provide the power to you. In a deregulated market, you can shop for your supplier based on their energy rates and plans offered.
Where you live determines you utility company. This cannot be changed because they are responsible for maintaining the power lines that get the energy to your home or business.
Consolidated and Dual Billing
If you bill comes from your utility company each month with your supplier charges included, this is called consolidated billing. Some customers prefer dual billing to keep the line items separate. In a dual billed scenario, the supplier sends their costs directly to you and the utility send theirs on their own as well.
Simplified Ways to Switch.
No matter how you choose to switch, we’ve got options.